Dangote Petroleum Refinery has reduced its ex-gantry petrol price to N1,200 per litre, marking a downward adjustment in its pricing structure.
The development was disclosed in a statement issued by the refinery on Thursday.
The price cut comes amid ongoing volatility in global oil markets driven by geopolitical tensions in the Middle East.
The latest adjustment represents a N75 reduction from the previous price of N1,275 per litre, despite rising crude oil prices globally.
The refinery also announced a reduction in its coastal price to N1,153, signalling potential downstream effects across Nigeria’s fuel distribution chain.
What they are saying
The refinery confirmed the price reduction and linked the decision to prevailing global oil market conditions. The move is expected to impact supply costs across depots and retail outlets.
- “Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets.”
- “The adjustment marks a downward review in the refinery’s pricing structure and is expected to influence fuel supply costs across distribution channels, including depots and retail outlets.”
The statement underscores the refinery’s responsiveness to market dynamics despite global uncertainties.
Backstory
The price reduction follows a series of upward adjustments earlier in March, reflecting the refinery’s response to changing crude oil prices and market conditions.
- Petrol price was increased from N1,175 per litre on March 13 to N1,245 per litre on March 20.
- The price was further raised to N1,275 per litre on March 21 before the latest reduction.
- The refinery also reduced its coastal price to N1,153 per litre, indicating a broader pricing adjustment across supply channels.
- These fluctuations highlight the sensitivity of local fuel pricing to global oil market movements.
The recent downward revision suggests a shift in pricing strategy amid evolving global and domestic conditions.
More insights
Global oil prices and geopolitical developments continue to shape fuel pricing decisions, with Nigeria remaining exposed to external shocks.
- Brent crude oil rose to $100.54 per barrel on Thursday, reflecting heightened tensions in the Middle East.
- Oil prices had earlier dropped to $96 per barrel after the United States delayed potential military action against Iran.
- The International Energy Agency has warned that the ongoing conflict could trigger the largest supply disruption in global oil market history.
- These developments continue to influence fuel pricing decisions by refiners and marketers.
What you should know
Nairametrics reports that Dangote Petroleum Refinery and Petrochemicals is witnessing a surge in inquiries from African countries seeking fuel supplies following disruptions caused by the Iran war.
Nairametrics reported earlier that Nigeria imported crude oil worth $3.74 billion in 2025 for processing at the Dangote Petroleum Refinery.
In February, Dangote Petroleum Refinery announced it reached its full designed capacity of 650,000 barrels of crude oil per day (bpd).
